Biotech Inks Three New Drug Discovery Deals

Adimab Inc., a biotechnology company in Lebanon, New Hampshire today announced three new independent research collaborations with Eli Lilly, Genentech, and Human Genome Sciences. The company offers a technology platform for the discovery of human antibodies.

For Eli Lilly, Adimab will use its discovery platform to identify fully human antibodies against two targets selected by Lilly. For each target, Lilly has the right to research antibodies generated from the collaboration for potential use as therapeutic products. Adimab, in turn, will receive various upfront fees including research fees and technical milestones. Also for each target, Lilly will have an option to exclusively license antibodies from the collaboration, and if Lilly were to exercise the option for a particular target, then Adimab would receive license fees, clinical milestones and royalties on therapeutic product sales for such target.

With Genentech Inc., Adimab will use its yeast-based antibody discovery platform to identify antibodies against two targets selected by Genentech. Under the terms of the agreement, Genentech has rights to commercialize antibodies generated from the collaboration. Adimab in turn will receive upfront payments, preclinical milestones, and licensing fees. In addition, Adimab can receive clinical development milestones and royalties on therapeutic and diagnostic product sales.

For Human Genome Sciences, Adimab will use its discovery platform to identify antibodies against one target selected by Human Genome Sciences. Similar to the deals with the other two companies, Human Genome Sciences has the option to commercialize antibodies generated from the collaboration. Also like the other companies’ agreements, Adimab will receive upfront payments and preclinical milestones, and can receive clinical development milestones and royalties on product sales.

Photo: Justin/Flickr

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